We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site.

Free Trading Guides
EUR/USD
Mixed
GBP/USD
Bullish
USD/JPY
Mixed
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Gold
Bullish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Oil - US Crude
Mixed
Bitcoin
Bearish
More View more
Real Time News
  • $EURUSD Daily Pivot Points: S3: 1.0936 S2: 1.0974 S1: 1.0998 R1: 1.1037 R2: 1.1052 R3: 1.109 https://www.dailyfx.com/pivot-points?ref=SubNav?utm_source=Twitter&utm_medium=DFXGeneric&utm_campaign=twr
  • The $CAD continues to take a hit against the US Dollar after USD/CAD very nearly experienced a major long-term support-break at the end of October. Get your USD/CAD market update from @PaulRobinsonFX here:https://t.co/qeWFmoLwKt https://t.co/G0o4uIV2k7
  • US Yield Curves Update: 2Yr/5Yr: 3.8 2Yr/10Yr: 22.2 2Yr/30Yr: 69.5 5Yr/10Yr: 18.6
  • Forex Update: As of 21:00, these are your best and worst performers based on the London trading schedule: 🇦🇺AUD: 0.51% 🇳🇿NZD: 0.34% 🇪🇺EUR: 0.28% 🇬🇧GBP: 0.17% 🇨🇭CHF: -0.17% 🇯🇵JPY: -0.32% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/Wdqln8EdxW
  • Commodities Update: As of 21:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 0.12% Gold: -0.29% Silver: -0.39% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/JRPr0hEqpC
  • $NZDJPY: The back-and-forth we have seen since the summer bottom could be taking on a large bear-flag, but that won’t be validated until the lower threshold is broken. Get your market update from @PaulRobinsonFX here:https://t.co/xBXm7PWHhn https://t.co/j4JNtpycsU
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 97.55%, while traders in France 40 are at opposite extremes with 86.01%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/SWn7XmGR9s
  • $USDJPY Daily Pivot Points: S3: 108.72 S2: 108.77 S1: 108.8 R1: 108.85 R2: 108.87 R3: 108.92 https://www.dailyfx.com/pivot-points?ref=SubNav?utm_source=Twitter&utm_medium=DFXGeneric&utm_campaign=twr
  • I guess I should have bought that 'Dow 30,000' joke hat back in 2007 (just over double the high back then)
  • US Equities Update (Friday Close): $DJI +0.80% $SPX +0.74% $NDX +0.70% $RTY +0.47% $VIX -8.47%
Yen Pares Gains, US-China Talks to Restart? Will Gold Prices Top?

Yen Pares Gains, US-China Talks to Restart? Will Gold Prices Top?

2019-08-26 23:00:00
Daniel Dubrovsky, Analyst
Share:

Asia Pacific Market Open Talking Points

Find out what the #1 mistake that traders make is and how you can fix it!

Risk Trends Gyrate with G7 Guidance

Risk trends were in for a wild ride at the beginning of the week, initiated by fundamental developments going back to last Friday. As anticipated, the anti-risk Japanese Yen strengthened while the sentiment-linked Australian Dollar weakened at market open Monday after trade tensions between the United States and China escalated. Heading into European markets however, those concerns faded.

According to US President Donald Trump, he received a phone call from China about wanting to restart trade talks. Later in the session, Mr Trump then downplayed reports from the Global Times that the two nations didn’t hold phone talks. He said that he was not aware of them disputing the calls, afterwards adding that China “very much” wants to make a trade deal.

While S&P 500 futures declined sharply at this week’s open, the index ended up trading 1.10 percent to the upside on Wall Street. The Japanese Yen gave up its strength as the Australian and Canadian Dollars outperformed. US durable goods orders were a mixed bag, rising 2.1% in July versus 1.2% anticipated. But, excluding transport, those contracted 0.4% versus 0.0% expected.

Gold Prices Technical Analysis

There was also a recovery in US government bond yields which ended up working against anti-fiat gold prices as the US Dollar gained. On a daily chart, this left XAU/USD with a Shooting Star candlestick after resistance held at the 78.6% Fibonacci extension. Prices closed right around the previous highs from earlier this month, but still confining to the dominant uptrend from the end of May.

The Shooting Star is a sign of indecision which coupled with negative RSI divergence, offers a preliminary warning that there may be a top in the works. This is as IG Client Sentiment offers a bearish-contrarian gold trading bias. If you would like to learn more about using this in your own analysis, join me every week on Wednesday’s at 00:00 GMT here.

XAU/USD Daily Chart

Yen Pares Gains, US-China Talks to Restart? Will Gold Prices Top?

Chart Created in TradignView

Tuesday’s Asia Pacific Trading Session

Given the developments over the past 24 hours, S&P 500 futures are little changed heading into Tuesday’s Asia Pacific trading session. A lack of critical economic event risk places the focus for foreign exchange markets on market mood. As such, incoming updates on US-China trade progress is likely to drive equities in the near-term.

FX Trading Resources

--- Written by Daniel Dubrovsky, Currency Analyst for DailyFX.com

To contact Daniel, use the comments section below or @ddubrovskyFX on Twitter

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES

News & Analysis at your fingertips.